https://www.taxtmi.com/caselaws?id=755019 Gujarat HC held that no interest is payable under Section 50 of CGST Act, 2017 from the date of deposit in electronic cash ledger till return filing date. The court ruled that literal interpretation of the provision requiring interest on amounts debited from electronic cash ledger is incorrect. Since tax liability is discharged upon deposit in government treasury and electronic cash ledger debit is merely an accounting adjustment, demanding interest for the period between deposit and return filing contradicts the compensatory nature of interest provisions. The petition was allowed. en-us Fri, 14 Jun 2024 00:00:00 +0530 Wed, 03 Jul 2024 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755019 Gujarat HC held that no interest is payable under Section 50 of CGST Act, 2017 from the date of deposit in electronic cash ledger till return filing date. The court ruled that literal interpretation of the provision requiring interest on amounts debited from electronic cash ledger is incorrect. Since tax liability is discharged upon deposit in government treasury and electronic cash ledger debit is merely an accounting adjustment, demanding interest for the period between deposit and return filing contradicts the compensatory nature of interest provisions. The petition was allowed. Case-Laws GST Fri, 14 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755019